ETH is approaching another point of decision. A breakup is going to take us to 2920-2980 area, a breakdown (which I do favor atm) will end up in a decline in ETHXBT ratio down to 2220-2280. Trade the breakout...
Breakdown confirmed on 4h... Down it is then I suppose.
phlogistax
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Could be a false breakout? Had my short set to open with some margin for error just in case of a fakeout while I was away. It just barely grabbed it on the swing down and now is trending up at my loss. Still have my position open though, we'll see how it plays out.
khun
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Naaa. no fake. it is clearly a break and it will most def move accordingly.
khun
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Just a matter of time...
khun
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Unless it moves above 2620 you should be fine.
phlogistax
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BTC is a bit of a wild card in this scenario as well, don't you think?
khun
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Absolutely. It will go along with a BTC move indeed. Just as my other idea suggests.